New Delhi, June 30 -- With the global economy experiencing an upheaval, external balances have been under watch around the world. In India's case, data released by the Reserve Bank of India on Friday presents an optimistic picture.

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Our current account balance recorded a surplus of 1.3% of gross domestic product (GDP) in the January-March quarter, despite the goods trade deficit widening to $59.5 billion from $52 billion a year earlier. What helped outweigh the merchandise gap were net receipts from services, which rose to $53.3 billion from $42.7 billion.

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Also, personal transfer recei...